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Kalkine Media ASX Share Market News & Research

Crypto casino Rollbit generated $38M revenue in September

October 03, 2023 06:27 AM PDT | By Invezz
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Crypto casino Rollbit generated $38M revenue in September
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Rollbit, a crypto casino and futures trading platform built on the Ethereum network, recorded close to $38 million in revenue across its business in September. The platform also revealed it burned over 1.2% of Rollbit Coin (RLB) circulating supply, news that saw the native token’s price surge to its highest level since mid-September.

Rollbit burns 40 million RLB or 1.2% of circulating supply

Rollbit’s popularity has coincided with the uptick in users across crypto casinos, crypto games and trading platforms. The opportunity to play with Bitcoin, Ethereum, Solana and other coins has players hooked even during crypto downturns, nd the result is growth in users and revenue for these projects.

Rollbit launched its “buy and burn” program on August 8, while on-chain RLB holders surpassed 10,000, co-founder @Lucky_Rollbit said on Monday.

“Nearly $38,000,000 was generated across our three revenue streams, resulting in a buy and burn of over $5,000,000 in RLB (1.265% of the circulating supply)! More buys, burns and on-chain fireworks are coming soon,” @Lucky_Rollbit posted on X.

According to details shared by Rollbit on X, revenue across the casino, crypto futures, and sportsbook units was $37,710,207 for September. The 30-day casino revenue was approximately $24.9 million, while crypto futures and sports betting segments accounted for $7.9 million and $4.8 million respectively.

Elsewhere, the 30-day buy and burn program saw $5,254,012 worth of RBL removed from circulation. It means the altcoin’s supply reduced by 40,326,428 coins, or approximately 1.265% of RLB circulating supply.

As crypto bounced higher on Monday, with Bitcoin price breaking past $28k, the Rollbit Coin (RLB) notched its own impressive gains. Per CoinGecko data, RLB traded from lows of $0.11 to above $0.14.

The double-digit gains came amid buyside pressure that has seen bulls push from lows of $0.09 on September 26.

The post Crypto casino Rollbit generated $38M revenue in September appeared first on Invezz.

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